Tuesday, May 24, 2011

2. Which of the following statements is FALSE?

ACCOUNTING

Multiple Choice

Which of the following statements is FALSE?

a. Product costs and inventoriable costs are interchangeable terms

b. Inventoriable costs are important for GAAP

c. Inventoriable costs are a special case of product costs

d. "Product costs" refers to the particular costs of a product for the purpose at hand

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